A contractor from south Trinidad has been ordered to immediately repay a $300,000 loan he took from another businessman, five years ago.
On April 16, High Court judge Avason Quinlan-Williams ordered Dale Khan to repay the money to Aindranarth Dhanram, after upholding his (Dhanram) lawsuit over the issue.
However, Khan appealed and asked for a stay of the judgement.
When the stay application came up for hearing before Appellate Judge Nolan Bereaux at the Hall of Justice in Port-of-Spain, last Thursday, it was rejected. Bereaux ruled that Quinlan-Williams’ assessment of the case was impeccable and stated that Khan did not have a real prospect of success on appeal.
In the event that Khan does not repay Dhanram within a reasonable time, he (Dhanram) may take levy action to have Khan’s assets seized and auctioned to clear the debt.
According to the evidence in the case, the businessmen became acquainted in 2010. Dhanram claimed that over the next four years, he let Khan $150,000, which he repaid and offered him a credit facility at his store. In 2014, Khan allegedly borrowed $310,000 with a promise to repay the money within a year at a rate of 10 per cent interest.
Khan did not repay the money within the period and requested a year extension. Khan was granted the extension but again did not honour the debt. Dhanram then filed the lawsuit seeking to recoup $372,000 which represented the principal plus two years’ interest.
In his defence, Khan claimed that it was, in fact, him who was loaning Dhanram money. Khan claimed that around the same time, he gave Dhanram six cash payments, totally $152,000. He claimed that when Dhanram gave him the check for $310,000 it was repayment for the loans. He returned $150,000 and took $8,000 in goods on credit.
In her eight-page judgement, Quinlan-Williams rejected Khan’s claims, which she described as illogical and mathematically incomprehensible.
“The defendant’s account sounded foolish. This was a rouse to explain why he wrote a cheque to the claimant in July, for $150,000,” Quinlan-Williams said.
As she analysed Khan’s financial records, she ruled that the payment Khan made to Dhanram was over the first loan.
“The entire conundrum created by the defendant’s circuitous tale was resolved by an application of common sense and logic to the evidence,” she said.
In addition to ordering Khan to repay the money, Quinlan-Williams also ordered that he pay the $60,000 Dhanram expended in bringing the lawsuit.
Dhanram was represented by Anand Ramlogan, SC, Alvin Pariagsingh, Vishaal Siewsaran and Chelsea Stewart. Khan was represented by Mustapha Khan and Kristin Khan.
Reporter: Derek Achong